Smith Salley & Associates cut its holdings in shares of Enbridge Inc (NYSE:ENB) (TSE:ENB) by 5.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 88,398 shares of the pipeline company’s stock after selling 4,739 shares during the period. Smith Salley & Associates’ holdings in Enbridge were worth $2,854,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of ENB. Welch Group LLC purchased a new stake in shares of Enbridge during the second quarter valued at $109,000. Legacy Advisors LLC purchased a new stake in shares of Enbridge during the third quarter valued at $115,000. Spectrum Management Group Inc. purchased a new stake in shares of Enbridge during the second quarter valued at $119,000. Centersquare Investment Management LLC grew its holdings in shares of Enbridge by 93.0% during the second quarter. Centersquare Investment Management LLC now owns 3,610 shares of the pipeline company’s stock valued at $129,000 after buying an additional 1,740 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new stake in shares of Enbridge during the third quarter valued at $137,000. 58.28% of the stock is currently owned by institutional investors and hedge funds.
Shares of ENB opened at $32.83 on Friday. Enbridge Inc has a 1-year low of $29.00 and a 1-year high of $41.21. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.47 and a current ratio of 0.59. The firm has a market cap of $57.20 billion, a PE ratio of 21.32, a P/E/G ratio of 1.37 and a beta of 0.53.
Enbridge (NYSE:ENB) (TSE:ENB) last posted its quarterly earnings results on Friday, November 2nd. The pipeline company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Enbridge had a net margin of 3.95% and a return on equity of 8.81%. The company had revenue of $8.68 billion for the quarter, compared to analyst estimates of $8.28 billion. During the same period in the prior year, the company earned $0.39 earnings per share. Sell-side analysts anticipate that Enbridge Inc will post 2.09 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Thursday, November 15th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 6.21%. The ex-dividend date of this dividend is Wednesday, November 14th. Enbridge’s payout ratio is 132.47%.
A number of equities research analysts have recently weighed in on ENB shares. ValuEngine raised shares of Enbridge from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Morgan Stanley boosted their price objective on shares of Enbridge from $34.00 to $37.00 and gave the company an “equal weight” rating in a report on Friday, July 13th. Citigroup reissued a “neutral” rating on shares of Enbridge in a report on Monday, September 24th. Bank of America raised shares of Enbridge from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $49.00 to $50.00 in a report on Friday, August 17th. Finally, Wells Fargo & Co raised shares of Enbridge from a “market perform” rating to an “outperform” rating in a report on Monday, November 5th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $49.17.
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Enbridge Inc operates as an energy infrastructure company in Canada and the United States. The company operates in five segments: Liquids Pipelines, Gas Transmission and Midstream, Gas Distribution, Green Power and Transmission, and Energy Services. The Liquids Pipelines segment operates common carrier and contract crude oil, natural gas liquids (NGL), and refined products pipelines and terminals.
See Also: Return on Investment (ROI)
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